Key insights
- PI fell 2% over the past 24 hours and could drop below $0.22 if the bearish trend continues.
- Technical outlook points to short-term downside risk.
PI could slide further due to weak technical performance
Pi Network (PI) has underperformed over the past three days and faces the risk of breaking below a key support trendline. On-chain data indicate rising selling pressure as centralized exchanges (CEXs) have seen a notable increase in inflows.
Data from PiScan show that user deposits to Pi Network–verified CEXs totaled 2.75 million PI tokens in the past 24 hours. Deposits significantly outpaced withdrawals of 1.76 million tokens, resulting in a daily net inflow to exchanges. That pattern suggests some holders may be preparing to sell portions of their holdings.
Will Pi Network fall below the $0.22 support level?
The PI/USD 4-hour chart is showing a bearish bias as PI lost 2% of its value in the last 24 hours. The coin is trading along a local support trendline drawn from the lows on October 22 and November 4.
At the time of writing, PI is trading at $0.2267 and remains under downward pressure. Technical indicators are signaling further downside: the RSI around 37 indicates the token is approaching oversold territory if the decline continues, and MACD lines remain inside bearish territory.
If the bearish momentum persists, PI could break below Monday’s low at $0.2204, with the next significant support near the $0.1919 area.
On the other hand, if buyers regain control, PI could reclaim last week’s high at $0.2841. A sustained bullish move would open the path toward the August 1 peak at $0.3220.
For now, market conditions remain tilted to the downside, and PI is likely to underperform in the coming days unless sentiment improves.